Get the clues on trading the Mexican peso!
Tag - mxn
The USMCA agreement between the US, Canada and Mexico and the new president-elect inauguration were expected to shed some light to the MXN. However, the election of Andres Manuel Lopez Obrador resulted in many uncertainties for the investors and therefore weakened the Mexican peso.
We have come to the second month of 2019 and it’s time to take a deep breath after the crazy run of the year, evaluate what has already happened and make some precisions on the upcoming months.
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USD/MXN is testing levels below 50-week MA and is vulnerable for a slide to the 100-week MA.
With all this Brexit mess it’s very easy to forget about other currency pairs.
The Mexican peso is supported by the rising oil prices, while the USD weakened ahead of the Fed’s meeting.
Why does the Mexican peso can be considered a good trading opportunity at the end of this week?
The new agreement between the United States, Mexico and Canada (USMCA) did not result in the long-term strengthening of the Mexican peso. Let's find out the reasons why.
USD/MXN has met resistance at the line connecting 2017 and 2018 highs.